Topic: why some country banned bitcoin? - page 60. (Read 10262 times)
Bitcoin is decentralised and thus these governments cannot control it, the main issue with this is that they cannot tax it effectively. There are also many scams related to bitcoin and especially ICOs, therefore for China for example it was necessary to ban them so they could protect the interests of their citizens who may invest.
The main reason for this ban is it's really really difficult to control Bitcoin. Bitcoin transaction is anonymous so it's nearly impossible to find out the owner of any transaction. Beside countries banned Bitcoin because their technology still not developed enough to control Bitcoin and its disadvantages to prevent crime take advantage of Bitcoin to commit guilty like tax evasion, drug trafficking,....For now there are few countries legalized Bitcoin but these countries still not able to control Bitcoin totally so I think it'll take much longer to see Bitcoin legalized worldwide.
because they don't know how to demand taxes from this, and still fear for the economy of the country
Short but direct to the point, it has still uncleared reason why they actually ban it to somw countries, but as what i am wondering maybe they see it as an economical competition between currencies that might actually lose the capability and uses of cash or fiats instead.
The legitimate status from claiming bitcoin varies significantly from country will organizations in the nation and will be still undefined or evolving Previously, a lot of people for them. Whilst those greater part of nations don't settle on those use of bitcoin itself illicit its status Likewise cash varies, for varying administrative suggestions. Same time some nations bring unequivocally permitted its use Also trade, others need banned alternately confined it.
because they don't know how to demand taxes from this, and still fear for the economy of the country
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Well I think may the these countries want to use their people to work for them in order to get tax from them I think they are worry about it that when they let free bitcoin in their countries so all the people will move toward bitcoin and they will start to get their money from bitcoin so I think that can be a reason which is a wrong decision by them. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
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